Truist Financial (NYSE:TFC) Given “Neutral” Rating at Bank of America

Truist Financial (NYSE:TFC)‘s stock had its “neutral” rating reiterated by research analysts at Bank of America in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $56.00 price target on the insurance provider’s stock, up from their previous price target of $54.00. Bank of America‘s price objective points to a potential upside of 8.92% from the stock’s current price.

TFC has been the topic of a number of other reports. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Royal Bank Of Canada increased their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. lowered their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $54.00 target price (down from $62.00) on shares of Truist Financial in a report on Monday. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.47.

Truist Financial Price Performance

Shares of TFC opened at $51.41 on Wednesday. The company has a 50 day moving average of $49.18 and a two-hundred day moving average of $49.41. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial has a twelve month low of $40.78 and a twelve month high of $56.19. The company has a market cap of $64.05 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts predict that Truist Financial will post 4.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Truist Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in shares of Truist Financial during the 4th quarter worth about $26,000. McMillan Office Inc. purchased a new position in Truist Financial in the 4th quarter valued at about $31,000. Maseco LLP lifted its stake in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after buying an additional 431 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.